My WebLink
|
Help
|
About
|
Sign Out
Home
Inst 2014298539
CityHall
>
City Clerk
>
City Council
>
Recorded Documents
>
2014
>
Inst 2014298539
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
2/6/2015 10:15:27 AM
Creation date
2/6/2015 10:14:58 AM
Metadata
Fields
Template:
CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Agreement
Document Date (6)
9/23/2014
Recorded Document Type
Deed of Trust
Assignment of Rents
Retention
PERM
Document Relationships
Agmt 2014 Alameda Housing Associates LP
(Reference)
Path:
\City Clerk\City Council\Agreements\2014
Inst 2014298538
(Reference)
Path:
\City Clerk\City Council\Recorded Documents\2014
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
20
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
in full force and effect, shall be delivered to the Beneficiary upon demand therefor at any time <br /> prior to the Beneficiary's receipt of the entire Principal and all amounts secured by this Deed of <br /> Trust. <br /> 3.3 Advances. In the event the Trustor shall fail to maintain the full insurance <br /> coverage required by this Deed of Trust or shall fail to keep the Security in accordance with the <br /> Loan Documents,the Beneficiary, after at least seven(7) days prior notice to Trustor,may(but <br /> shall be under no obligation to)take out the required policies of insurance and pay the premiums <br /> on the same or may make such repairs or replacements as are necessary and provide for payment <br /> thereof; and all amounts so advanced therefor by the Beneficiary shall become an additional <br /> obligation of the Trustor to the Beneficiary(together with interest as set forth below)and shall be <br /> secured hereby, which amounts the Trustor agrees to pay on the demand of the Beneficiary, and <br /> if not so paid, shall bear interest from the date of the advance at the lesser of ten percent(10%) <br /> per annum or the maximum rate permitted by law. <br /> ARTICLE 4. <br /> DAMAGE,DESTRUCTION OR CONDEMNATION <br /> 4.1 Awards and Damages. Subject to the rights of senior lenders, all judgments, <br /> awards of damages, settlements and compensation made in connection with or in lieu of(1) <br /> taking of all or any part of or any interest in the Property by or under assertion of the power of <br /> eminent domain, (2) any damage to or destruction of the Property or in any part thereof by <br /> insured casualty, and(3) any other injury or damage to all or any part of the Property("Funds") <br /> are hereby assigned to and shall be paid to the Beneficiary by a check made payable to the <br /> Beneficiary. The Beneficiary is authorized and empowered(but not required)to collect and <br /> receive any funds and is authorized to apply them in whole or in part upon any indebtedness or <br /> obligation secured hereby, in such order and manner as the Beneficiary shall determine at its sole <br /> option. The Beneficiary shall be entitled to settle and adjust all claims under insurance policies <br /> provided under this Deed of Trust and may deduct and retain from the proceeds of such <br /> insurance the amount of all expenses incurred by it in connection with any such settlement or <br /> adjustment. All or any part of the amounts so collected and recovered by the Beneficiary may be <br /> released to Trustor upon such conditions as the Beneficiary may impose for its disposition. <br /> Application of all or any part of the Funds collected and received by the Beneficiary or the <br /> release thereof shall not cure or waive any default under this Deed of Trust. The rights of the <br /> Beneficiary under this Section 4.1 are subject to the rights of any senior mortgage lender. <br /> Notwithstanding the provisions of this Section,the Beneficiary shall release the Funds to Trustor <br /> to be used to reconstruct the improvements on the Property provided that Beneficiary reasonably <br /> determines that Trustor has sufficient funds to rebuild. <br /> ARTICLE 5. <br /> AGREEMENTS AFFECTING THE PROPERTY; FURTHER <br /> ASSURANCES; PAYMENT OF PRINCIPAL AND <br /> INTEREST <br /> 5.1 Other Agreements Affecting Property. The Trustor shall duly and punctually <br /> perform all terms, covenants, conditions and agreements binding upon it under the Loan <br /> 7 <br /> 144\221\1488737.2 <br />
The URL can be used to link to this page
Your browser does not support the video tag.